Rothschild-Linked Oil Tycoon Makes Waves in Bitcoin Mining Pool

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By CCN: A big shakeup at Argo Blockchain, the beleaguered bitcoin mining company that owns Argo Mining, has revealed that a Rothschild-linked London oil tycoon with a shadowy past just did the cannonball dive into the deep end of the crypto mining pool.

Bitcoin Mining Firm Fires Top Brass, Onboards Oil Barron

Frank Timiș, a 56-year-old Romanian-Australian businessman worth over $2 billion with deep interests in oil and gold mining, was revealed as a part owner of Argo Mining after a company shakeup that led to the ouster of two top Argo executives.

The company also announced a massive overhaul of its entire business plan earlier this year. Rising costs and the long crypto winter rendered Argo Blockchain’s previous cash flow model unprofitable.

With Frank Timiș – who now owns a controlling 14% stake in the bitcoin mining firm, at the helm – Argo has moved on from subletting hash rate and invested in its own mining rigs.

Institutional Adoption? Frank Timis Has Ties to Rothschild Bank

Frank Timiș has ties to Rothschild Bank. That’s about as institutional as it comes. | Source: Shutterstock

The financial establishment has been looking at cryptocurrency and the disruptive power it holds with eyes wide open for some time now. 2018 was a year of unprecedented institutional interest in bitcoin and other digital assets.

Frank Timiș is an old oil and gold guy with economic interests that tie him firmly into the establishment. In the mid-90s, Timiș’ gold mining company, Gabriel Resources, even obtained a $3 million loan from the Rothschild Bank in the U.S. after striking gold in Australia.

Can Bitcoin Be Corrupted?

Even the banks might not be able to stop what Satoshi has wrought. | Source: Shutterstock

These titans of the 20th-century political and financial status quo will attempt to drink the entire sea because they still don’t fundamentally understand that bitcoin is a sea change in the world order. It will eventually swallow them instead.